focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
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Yes i did think that was your code lol.
Rapid rise maybe but for very good reasons so i am personally very pleased to hold here and very impressed with the company position.
Shaz,
Yes - with the rapid rise this month, I had too much tied up in a single share. I still expect to see 30p by Easter, but learnt a long time ago that being greedy can backfire, so I stick to some loosely defined rules and those rules said bank some profit whilst it is on offer.
Good finish 19.5p.
Market makers clearly ran out of shares at 20p offer earlier so halted buying for over two hours. They then raised the bid over 20p to bring some in and I believe, looking at the trades, they managed to get a few back but not many.
Noticed a 99,999? Was that you again Nom?
I can’t seem to get any online quotes to buy at 20p
Only 1k shares, but the teens are gone if even only for a little while.
A bit of info about one of the mines operated by Golden Sun Resources 5.5% MAFL
Bellavista Costa Rica
Approximately $30 million has been spent on exploration and feasibility studies 1985-2003; about $70 million spent on construction and development in 2003-4 (much of the equipment still on site); Golden Sun's board and shareholders have invested approximately over $8.0 million to-date.
A few more £m invested since this.
Another option that other investment companies have used...(https://www.lse.co.uk/rns/SSIF/b-share-scheme-klxzfhgiqj4wq4s.html)
Create B shares that are issued to shareholders according to existing shareholdings
The company buys back B shares from shareholders for cancellation and sends cash to shareholders
Distribution is Capital Gain rather than dividend
Or get the S10m in and return most of it to shareholders as a 20p per share dividend and still have a NAV that supports the current share price.
A nice exciting investment using the cash could put an end to the illiquidity here and bring many new investors in.
OK makes sense - i just subtracted the £1.7million from the $10 million baseline and added $2.5
so we are saying that MAFL held a £1.25 million NAC against the £2.5million and a foarward carry of £450K value of lagoa? Which now for NAV purposes should be dicounted at 50% from the baseline put option sale min ? still puts this at under half NAV (especially when FS is due for completion Q1)
Very conservative methods of valution mean that we should really trade at a discount at all
Florence is correct about the "known" cash installments - they were discounted and factored in. The recently announced Put option was not in any previous NAV as I believe it wasn't finalized until part of the Ascendant agreement with Sprott. That negotiation allowed this figure to be crystallized.
Hi Florence
I dont quite understand , maybe the £2.5 i can see that there would be a level in the £1.7 million - but there nothing in the current NAV for the Put Option - I understand the perhaps the $10 million baseline would be dicounted by 50% prior to sale ? Cheers
Hi GMS,
One small amendment to that is that the cash payments are carried in the NAV at a discount (believed to be around 50%) to their value before they arrive. So only the other 50% is NAV accretive on arrival. I believe this would reduce your estimate by 13.5p.
Morning
Well worth watching the Proactive interview last week that gives a very good insight as to where this is going
Lagoa is only recorded with a NAV of £1.7million - but now has a "hard value" of $10.8 based on PEA alone .. under the put option
Aslo some interesting sounding changes on other parts of the portfolio, that i didnt fully understand .. some news on these expected on/before 18th - and Annual report any day to year end Sept 22
I thing NAV will be about 23p share (as of sept) as the $1million didnt show in last valuation , but current developements put 6p/7p in $2.5 mil in payments and a $8/ $9mil on that as it stands - say 20p share.. so im going for just under 50P as of today - with significant upside potential over the coming months
Morning.
Yes, I mentioned before (previous username, also Lewis) that CG has a very similar management/board people to ASND so maybe there has been more focus on ASND currently. Will never understand why these guys try and successfully run so many “pies” concurrently!!
The only fly in the ointment just now seems to be Cerrado.
I’m not so sure as ASND may see some dilution going forwards to pay for the mine, etc so probably best to let them sort out their finances first and maybe the JV will sneak a path from that angle, if he sees fit.
I believe MAFL hold over two million shares that were given as part of the LS deal so that is a good position already.
I trust JV will find a good opportunity for the cash, he’s clearly a very shrewd and cool operator, (although a bit too cool sometimes for my liking lol).
I wonder if any would be directed to Ascendent shares? Jaques knows the potential here, so could potentially, if MAFL bought £3m in ASND (current MC of £12m in GBP), own 25% of the company (+ plus the % we already own, I think 2 or 3%). Plus a good time to buy ASND at a depressed price. I did try to purchase some myself but neither of my online brokers allow TSX shares it appears.
Very well done to the company here.
Really is a spectacular performance and with lots more to come as can be heard in yesterdays interview.
I wonder what plans there are for the cash as there’s lots of opportunities currently for MAFL,
glad I held on to my 12p average position and didnt take a loss! good work MAFL!!
RNS out
Just did a dummy trade and was offered 15.9p - so definitely headed in the right direction. Hopefully we get an RNS at 11, but may be after 2.30pm if we have to wait for duel news from ASND (TSX opens at 9.30)
Cheers will have a listen shortly.
Supply must be tight if the MMS delay printing a 50k buy two hours!
Wow
Not many of these about
https://twitter.com/Bazreynolds9707/status/1600910310424313856?t=q1HMKtmLmQylHuShVh6Wig&s=19
I am not sure there is many companies ran as well as #MAFL
£2m payment gone through
Royalty stream from mines in Costa Rica
Ideon value uplift
10m hard value on LS currently valued at 1.7m
I have a massive target over the next 2 years.
JV touched on the Golden Sun Resources investment in Costa Rico. MAFL have around 5.5% of the project. They should receive sign off on financing a bigger mill on the 18th of December which will pay for a plant to process 450k tonne a day to produce 35 / 45 thousand ounces per year. JV says that this will then become a sellable asset.
Historic figures were around 1 million ounces in the ground at 1.5g a ton; I would expect a net profit of around $500 an ounce which could mean over $1m a year... sellable for $4 or $5m maybe.
The future seems shiny for this overlooked share whether you are a trader looking for a reasonable risk / reward ratio or a longer term shareholder or, like myself, a mix of both. Father Xmas seems to be smiling for existing shareholders.